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We will illustrate Chebyshev’s theorem using the binomial distribution. Suppose you are modeling successes on “cold...

  1. We will illustrate Chebyshev’s theorem using the binomial distribution. Suppose you are modeling successes on “cold call sales” and that the probability of your success on such a call is 0.25 (you are very persuasive!) You will make 20 such calls. Define X≡number of successes on 20 calls (you may assume independence).
    1. What is the mean and the standard deviation of this random variable?

  1. What is the interval μ-2 σ≤X≤μ+2 σ ?

c) Calculate P μ-2 σ≤X≤μ+2 σ

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